Info Edge In Focus: Citi's Buy Rating Boosted InfoEdge, Billings Recovery To Accelerate Revenue

Citi has upgraded Infoedge to buy from sell with a target price of Rs 6650 per share. Recruitment Billings have returned to Growth- Recruitment business billings rose 7% YoY in 4Q, up from -1% in 9mFY24 . Citi believes recruitment business has likely bottomed out and they expect bulk of recruitment billings recovery to translate to revenue acceleration from FY25E. They expect EBITDA margins to expand to come in at 41.6%/42.5% for FY25/26E and 40.0% in FY24.

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